I have a bearish bias but price might touch 2008/9 highs i don't know yet. Major uptrend and buying shows other wise. If 0.88400 level is broken which hasn't been done yet i would be careful, it did kiss that level yesterday and may be retested. I'll wait till next week but this is definitely on the watch list.
This is my extrapolation of the pair from the data available on the monthly charts. I have only been studying Elliot wave a short time so this may be utter rubbish. Open to comments or feedback from others.